TV Guide Sold For A Dollar

AdAge:

NEW YORK (AdAge.com) -- How much is TV Guide magazine worth in a morphing media business and molten credit markets? Try $1.

That's how much the private equity fund OpenGate Capital has agreed to pay Macrovision for the unprofitable magazine and all its liabilities. The cover price, by way of comparison, is $2.99.

To sweeten the deal even further, Macrovision is loaning OpenGate up to $9.5 million to help get going -- at a very friendly 3% interest.

"I'd borrow from Macrovision any time," one investment banker said of the terms.

Read the whole story: AdAge

Comments

[TakLoufer]

Well this explains why they've been badgering me to renew. Except for Cheers n Jeers and the Roush Report -- feature pages from the rag's paperback novel-size years -- it just ain't the Guide I grew up with. The only pluses have been the covers and photo spreads on fave shows like Lost & House, plus the recent witty Desperate Housewives 40's pinup-girl fold-out. Although the night-time grids are nicely laid out there is virtually no morning & afternoon coverage. Synopses are often one brief line with no guest star listings like they used to have, which I'm sure doesn't make SAG too happy.

They also can't make up their minds whether its a "family publication" or one of general interest. A lot of the content seems a bit too racy for kids.

[harriettubman]

Sunday newspapers print their own TV guides so this guide has been obsolete for years. They use to do some great celebrity interviews though. In one interview they did with Mike Jackson, he said he dyed his oldest son's hair blond every 2 weeks. I couldn't believe it!!!

[SHOPARAZZI]

in an age when u can watch tv on ur phones or computers and get tv info from the internet and when the avid reader's attention span is the length of a headline or abridged blog, who in their right mind would buy a tv guide?

$1, huh? i wouldnt have paid that on ebay.

gl w/ that.

[phoebie]

So strange. About three weeks ago we started receiving TV guide by mail when we have never, ever been subscribed to it. Was the owner of TV Guide trying to bolster subscriptions before the sale? By the way, TV Guide, stop sending it. I'd rather not waste the trees needed to publish it.

[editorjuno]

It was once useful -- back when it was a small-format, localized TV listing book with a few articles for seasoning. Now it's just a second-rate, TV-focused competitor to People/Us/Parade and serves no market function.

[ElBruce]

I have a buck. Why wasn't I offered this deal?!?

[GWHayduke]

Hell, I'd've offered two!

[ReelBusy]

for $3 you guys can get a whole weeks TV listings.

[RobinLandseadel]

Excuse me, that should have read Walter Annenberg, the migrane I got from watching McCain twitch last night has yet to subside.

[RobinLandseadel]

The ghost of Walter Annerberg must be pretty freaked right about now.

[josephbua]

In college, back in the late 70s early 80s, I was known as the guy in the student union at SUNY Oswego who had a TV Guide on him so I could tell you what's on.

Not that I needed it. I pretty much had it memorized. Well, not that CTV station across the lake in Kingston, Ontario, but the rest, certainly.

So you can imagine that today's news is somewhat disheartening.

But who needs listings? Digital cable killed the TV listing. Like video killed the radio star.

[Mannock]

Once, not long ago, the best selling magazine in the world. Now this. Times sure do change!

[PeepingTom]

Call me an elitist, but who in the world actually pays money to buy a weekly TV Guide anymore?

Anyone who has cable, has the free channel guide! And the newspaper prints the TV schedules, as well as having a weekly guide in the SUnday paper. TV Guide, as I remember it from years ago, had about 4 mini-pages of fluff about some soap opera or game show.

[iRob08]

That thing is still around??? I haven't looked at a TV guide since....the 1980s

[psychmaj323]

LOL, I didn't think it was still around!

[Opt1musPr1me]

Wow I would have plunked down $2 for it and totally revamped the look and content.

[nellie]

It used to be a decent magazine, when it was small.

[Budokan]

Hey, even I could afford that! And here I am all my life wanting to be a TV Guide mogul....